| Property Value | Rate |
|---|---|
| Up to $14,000 | $1.25 for every $100 or part of the value |
| $14,001 to $31,000 | $175 plus $1.50 for every $100 or part, over $14,000 |
| $31,001 to $83,000 | $435 plus $1.75 for every $100 or part, over $31,000 |
| $83,001 to $310,000 | $1,290 plus $3.50 for every $100 or part, over $83,000 |
| $310,001 to $1,033,000 | $9,285 plus $4.50 for every $100 or part, over $310,000 |
| $1,033,001 to $3,101,000 | $41,820 plus $5.50 for every $100 or part, over $1,033,000 |
| $3,101,001 and above | $152,095 plus $7 for every $100 or part, over $3,101,000 |
Note: The figures used in the above table are applicable to property purchases in New South Wales. Different rates may apply to commercial or industrial property purchases and rates can be subject to change based on the circumstances of the individual.
Before committing to a property purchase, it’s always a good idea to speak to a professional who can advise on your specific situation.
Stamp duty is the tax imposed by the state government on certain legal transactions such as property and share transfers. Sometimes referred to as transfer duty, the amount of stamp duty that property buyers are liable for will depend on the value of the property that is being purchased as well as individual circumstances and concessions that may apply to special groups.
For instance, in NSW, first home buyers that purchase a new home that is valued at less than $800,000 may be eligible for a stamp duty exemption and pay no transfer duty on their purchase.
In New South Wales, stamp duty is calculated on the market value of the property that is being transferred between owners. Just like tax brackets, there are stamp duty brackets that mean properties with a higher value will have to pay a more expensive stamp duty rate than lower value purchases. Our stamp duty calculator is a great way to estimate your stamp duty costs, however, it’s always a good idea to consult with a financial professional before your purchase to get an exact cost breakdown for stamp duty in NSW.
Yes, each year the stamp duty threshold for standard transfer duty and premium duty rates in NSW are adjusted in line with movements in the Sydney Consumer Price Index (CPI) to account for inflation.
The easiest way to calculate your stamp duty is to use our free online stamp duty calculator above. Our free calculator will help you to estimate your stamp duty obligations based on your purchase price against the current rates in New South Wales. The calculator takes into account any eligible concessions and exemptions that may be applied to your circumstances.
In NSW, certain groups may be exempt from paying stamp duty or be eligible to receive a concession on their stamp duty rate. For instance, first home buyers may be eligible for an exemption or concession based on the purchase price of their home. Other factors such as gifts and de facto partnership status may be taken into account, so it’s always a good idea to speak with a mortgage professional before you buy.
In New South Wales, you must transfer duty within three months of signing a contract for sale or transfer – except in the case of off-the-plan purchases which you may defer for up to 12-months if you plan to live in the property. Again, before committing to a purchase, it’s a good idea to consult with a professional who can advise you of your obligations for your specific circumstances.
You must pay stamp duty/duty transfer within three months of signing a contract for sale or transfer except in the case of off-the-plan purchases.
As we mentioned above, If you buy off the plan, you may be eligible to defer your stamp duty liabilities for up to 12-months if you plan to live in the property when it is finished.
Surcharge purchaser duty is a duty that is applied toa foreign person that is acquiring residential property in NSW. First introduced on the 21st June 2016, the surcharge purchaser duty is calculated on the dutiable value of the property and is paid in addition to the transfer duty that is applied on top of regular transfer duty. In NSW, the surcharge purchaser duty is currently calculated at 8% of the value of the property or of the purchase price – whichever is greater.
No, as of 2023 the New South Wales government does not offer any concessions on stamp duty to pensioners and seniors. In NSW, pensioners are still required to pay any applicable stamp duty on property purchases. If seniors or pensioners are purchasing a home for the first time, they are still eligible for first home buyer stamp duty tax breaks.
No, buying off the plan does not impact the amount of stamp duty that buyers pay in NSW. However, buyers who purchase property off the plan in NSW can defer transfer duty payments for up to 12 months from the date after which the agreement is signed or when the property sale is handed over – whichever comes first.
If you are unable to meet your stamp duty payment obligations within the three-month stamp duty payment window, you will begin to accrue interest, fees, and may also be subject to additional penalties. If you are unable to meet your stamp duty obligations, it is a good idea to visit the NSW revenue website to apply for an extension.
No, if you inherit a property through the will from a deceased estate, you will not need to pay stamp duty. Instead, you will need to pay a concessional transfer duty rate of $50.
No, stamp duty is an upfront cost and cannot be rolled into a mortgage. Buyers must pay for stamp duty up front and cannot add it to their loan balance.
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The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
